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September 6, 2017

Two more floors at Macy's sell for $50M

SEATTLE — Macy's has sold two more floors in its downtown flagship store at 300 Pine St.

The deal was announced in June.

The buyer was an LLC related to Starwood Capital, which is already renovating floors five through eight. Starwood paid $65 million for the four top floors in 2015.

That currently 300,000-square-foot space — now called 300 Pine — is being renovated by CallisonRTKL, Bayley and KPFF.

The Colliers team of David Abbott, Greg Inglin and Laura Ford is marketing the space, which will have a large rooftop deck and other amenities. No tenants have been announced.

The purchase of floors three and four adds about 160,000 square feet to the available space.

Macy's will continue to operate in the basement and on levels one and two.

Nationally, Macy's continues to report flat sales, and is shedding staff and closing stores.

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